Related Party Transaction Analyzer
PROIdentify, classify, and analyze related party transactions for compliance with IAS 24, ASC 850, and ISA 550. Detect fraud patterns, assess arm's length terms, and prepare accurate disclosures.
Example Usage
“I’m auditing a pharmaceutical company with 15 subsidiaries across 8 countries and 3 joint ventures in Europe. Help me create a systematic procedure to identify all related party relationships including direct ownership, board interlocks, and management secondments. The prior year audit documented 47 relationships—I need to validate completeness.”
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Suggested Customization
| Description | Default | Your Value |
|---|---|---|
| Accounting standard framework (IFRS, GAAP, ASPE, IPSAS) | IFRS | |
| Percentage threshold for material RPT disclosure | 5% | |
| Filter by relationship type (parent_subsidiary, associates, joint_ventures, key_management, government_related) | all | |
| Filter by transaction type (sales, purchases, loans, guarantees, leases, management_fees) | all | |
| Baseline risk assessment level (low, medium, high) | medium | |
| Transfer pricing documentation requirement (contemporaneous, post-hoc, none) | contemporaneous |
Research Sources
This skill was built using research from these authoritative sources:
- IAS 24 Related Party Disclosures IFRS standard defining related parties, disclosure requirements, and measurement approaches
- AS 2410: Related Parties (PCAOB) US audit standard for public companies specifying RPT identification and substantive procedures
- SA 550 - Related Parties (IAASB) International Auditing Standard defining auditor responsibilities for related parties
- Are Related Party Transactions Red Flags? Academic study correlating RPTs with financial restatements and earnings manipulation risk
- Auditing Related Party Transactions (Stone Prime) Comprehensive audit framework covering identification, risk assessment, and governance
- Transfer Pricing Methods & Arm's Length Transfer pricing regulation and arm's length principle for RPT valuation
- The Audit of Related Parties in Practice (ICAEW) Practical guidance on treating RPTs as significant risks and evaluating business rationale